Wellington Management Group LLP Decreases Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Wellington Management Group LLP reduced its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 78.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,381 shares of the real estate investment trust’s stock after selling 42,391 shares during the quarter. Wellington Management Group LLP’s holdings in Equity LifeStyle Properties were worth $812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. boosted its position in Equity LifeStyle Properties by 356.4% in the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 417 shares during the last quarter. Blue Trust Inc. grew its position in shares of Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 391 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Equity LifeStyle Properties by 31.3% in the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 146 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Equity LifeStyle Properties during the 2nd quarter worth approximately $54,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Equity LifeStyle Properties during the 3rd quarter valued at approximately $75,000. Institutional investors own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ELS. Compass Point boosted their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Evercore ISI raised their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Finally, Robert W. Baird raised their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Stock Performance

ELS stock opened at $66.18 on Friday. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The company has a market capitalization of $12.64 billion, a P/E ratio of 34.11, a PEG ratio of 3.63 and a beta of 0.77. The company has a 50-day simple moving average of $69.91 and a 200 day simple moving average of $68.98. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter last year, the company posted $0.71 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is presently 98.45%.

Equity LifeStyle Properties Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.